Spirit of Texas Bancshares Inc (NASDAQ:STXB) Sees Significant Decline in Short Interest

Spirit of Texas Bancshares Inc (NASDAQ:STXB) was the recipient of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 181,800 shares, a decrease of 6.4% from the August 30th total of 194,300 shares. Based on an average daily volume of 64,500 shares, the short-interest ratio is presently 2.8 days. Currently, 1.3% of the shares of the stock are sold short.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in shares of Spirit of Texas Bancshares during the third quarter worth approximately $28,000. Acadian Asset Management LLC increased its holdings in shares of Spirit of Texas Bancshares by 32.6% during the second quarter. Acadian Asset Management LLC now owns 12,050 shares of the company’s stock worth $271,000 after buying an additional 2,964 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Spirit of Texas Bancshares by 14.2% during the second quarter. Parametric Portfolio Associates LLC now owns 12,589 shares of the company’s stock worth $283,000 after buying an additional 1,567 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Spirit of Texas Bancshares by 171.1% during the second quarter. Wells Fargo & Company MN now owns 22,295 shares of the company’s stock worth $501,000 after buying an additional 14,072 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Spirit of Texas Bancshares by 99,108.0% during the second quarter. Royal Bank of Canada now owns 24,802 shares of the company’s stock worth $558,000 after buying an additional 24,777 shares in the last quarter. 27.99% of the stock is owned by institutional investors.

NASDAQ:STXB opened at $21.52 on Friday. Spirit of Texas Bancshares has a 12-month low of $16.70 and a 12-month high of $23.53. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $338.38 million, a PE ratio of 20.50 and a beta of -0.19. The firm has a 50-day moving average price of $21.26 and a 200 day moving average price of $21.75.

Spirit of Texas Bancshares (NASDAQ:STXB) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.04. Spirit of Texas Bancshares had a net margin of 17.19% and a return on equity of 8.37%. The firm had revenue of $23.53 million during the quarter, compared to analyst estimates of $21.70 million. On average, research analysts expect that Spirit of Texas Bancshares will post 1.53 EPS for the current year.

Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Spirit of Texas Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. ValuEngine lowered shares of Spirit of Texas Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Piper Jaffray Companies dropped their price target on shares of Spirit of Texas Bancshares from $26.00 to $25.50 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $23.96.

Spirit of Texas Bancshares Company Profile

Spirit of Texas Bancshares, Inc operates as the holding company for Spirit of Texas Bank SSB that provides various commercial and retail banking services to small and medium-sized businesses and individuals. It offers checking accounts, money market accounts, savings accounts, certificates of deposit, and IRA accounts.

Featured Story: What is an investor looking for in an SEC filing?

Receive News & Ratings for Spirit of Texas Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit of Texas Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit